The XRP price is again at home, with the Confluence support of Altcoin offering a bullish perspective and referring to an increased continuation. Based on these technical indicators, Crypto Analyst The alchemist trader predicted that XRP could soon come together at $ 3.
The XRP price could reach a key resistance at $ 3
In a TradingView PostThe alchemist merchant said the XRP price could reach the main resistance at $ 3. This came because he predicted a power of the environment and the control point (POC) at $ 2.80 as the next logical step. He added that the main obstacle is at Previous top almost $ 3where the median point and the lease control block of the chain coincide.
The analyst also commented on the current price action, noting that Altcoin has entered a pivot consolidation phase in its long -term channel. He also gave a technical distribution of the key elements underlying the current XRP configuration. First of all, he revealed that the prize had retetest the Lower limit of the growing channel And held “perfectly”.
The alchemist merchant noted that this same level aligns with the retrace of 0.618 of the previous impulse, creating a robust demand zone in the process. The analyst then discussed the mobile average (MA) and the volume structure. He revealed that The XRP price Has recovered and hovered over his 200-day mastery, which reports control of buyers.
In addition, recent rebounds on the low channel would have experienced a daily volume above average, indicating an institutional accumulation to this confluence. Meanwhile, a night swing for Altcoin formed a lower low above the low monthly value area (Val), strengthening the support and trapping of bears. With a break over the previous swing, XRP confirmed a transition to higher highs, ending a reversal of bull market.
The momentum is building for Altcoin
In a post X, Casitrades of cryptographic analyst said the momentum is built as the XRP price approaches the key levels of Fibonacci. It has recognized that the market has been relatively silent in recent times, but pointed out that the momentum has been reproducing and that Altcoin fell to one of the most critical support tests observed in weeks.
The analyst also noted that after a constant withdrawal from the local summit at $ 2.36, the price is now approaching a key support region between $ 2,078 and $ 2.00. This area would have acted as a pivot point in the past and this is where the market could start to turn if the strength returns.
Meanwhile, on the lower time, Casitrades said that The relative force index (RSI) shows signs of exhaustion sales and prices' action is starting to compress. This often points out that a greater movement is on the horizon. The analyst plans that the token will take the strength of these supports and exceed $ 2.25, $ 2.68 and “beyond”.
At the time of writing writing, the XRP price is negotiated at around $ 2.13, up more than 1% in the past 24 hours data from CoinMarketCap.
Getty Images star image, tradingView.com graphic
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